3404 Garcia St NE · Albuquerque, NM 87111

$184,900

2 bd · 1.5 ba · 1,378 sqft · Other public records · 128 Days on market

Built 1953 6,621 sqft lot $134/sqft · 42% below area Est $318k · 42% under ↓ 12% since listing

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Schools +5.3/10.0
• 1% rule +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Major fixer-upper opportunity. The home is in poor condition and cited as substandard with the city. The home will require extensive repairs and updates throughout, including but not limited to roof, plumbing, flooring, paint, and water damage remediation. Not move-in ready. Property is being sold as-is, where-is, with no repairs by seller.

Key facts

• 6,621 sq ft lot
• Built 1953
• Listed 128 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $185k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (8.7% below list).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.6% in Albuquerque — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#13 in NM) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Albuquerque Public Schools (urban): math 51% / reading 75% proficiency, ranked #3 of 29 in NM (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Coronado Elementary (308 students, 30% FRL); Madison Middle (602 students, 41% FRL); Sandia High (math 72% / reading 82%, grade A-, #9 of 110 statewide, top 7%, 1,728 students, 32% FRL) — zoned schools average 34% FRL vs 60% district-wide (26 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 77% at this address vs 63% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Albuquerque Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 270 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,316 units permitted in Bernalillo County in 2024 (546 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.08%
• DSCR: 1.14
• GRM: 9.1

CMA / ARV

• ARV (median comp): $317,999
• List price: $184,900
• Delta: -41.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.6% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.51×
• Total profit: $-25,511
• Equity at exit: $27,569

10-year hold

• IRR: -9.4%
• Equity multiple: 0.48×
• Total profit: $-26,987
• Equity at exit: $15,987

Cash invested: $51,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State New Mexico: 55 Moderately Landlord-Leaning · D+3
• County: — inherits STATE
• City: — inherits STATE

3-day notice but with cure rights; relocation assistance in some cities.

Methodology + full state rankings →

ZIP-level market 87111

• Rents YoY: 0.6%
• Active inventory: 270
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,688 high
• Mortgage (P&I): −$970
• Tax from tax record: −$154 /mo · $1,851/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $133

Break-even live

Break-even rent $1,520

Max offer price $184,900

Occupancy floor 87%

Sensitivity live

Price	-10% $237	-5% $185	+0% $133	+5% $80	+10% $28
Rent	-10% $-1	-5% $66	+0% $133	+5% $199	+10% $266
Rate	-1.0pp $226	-0.5pp $180	base $133	+0.5pp $85	+1.0pp $36

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9408 Candelaria Rd NE Albuquerque, NM	2.0	1.0	1100	$1,300	$1.18	25d	1	0.35mi
8906 Aztec Rd NE Albuquerque, NM	3.0	1.5	1100	$2,400	$2.18	21d	1	0.38mi
9019 Los Arboles Ave NE Albuquerque, NM	3.0	2.0	1445	$1,800	$1.25	45d	1	0.52mi
10108 Comanche Rd NE Unit A Albuquerque, NM	1.0	1.0	875	$1,095	$1.25	45d	1	0.60mi
4236 Eubank Blvd NE Albuquerque, NM	1.0–3.0	1.0–2.0	862	$1,636	$1.90	4d	15	0.65mi
9402 Claremont Ave NE Unit B Albuquerque, NM	2.0	1.0	1000	$1,775	$1.77	25d	1	0.66mi
10211 Blume St NE Albuquerque, NM	3.0	2.0	1632	$1,850	$1.13	5d	1	0.74mi
10113 Blume St NE Albuquerque, NM	3.0	2.0	1700	$1,900	$1.12	45d	1	0.74mi
3300 Morris St NE Albuquerque, NM	1.0–2.0	1.0	785	$1,175	$1.50	16d	4	0.79mi
9516 Dona Marguerita Ave NE Albuquerque, NM	3.0	2.0	1650	$1,800	$1.09	45d	1	0.85mi
3101 Lori Pl NE Albuquerque, NM	2.0	1.0	895	$1,200	$1.34	16d	4	0.90mi
4610 Eubank Blvd NE Albuquerque, NM	2.0	1.0–2.0	652	$1,309	$2.01	5d	8	0.91mi
2316 Britt St NE Albuquerque, NM	3.0	2.0	1403	$2,300	$1.64	25d	1	0.98mi
8911 Northeastern Blvd NE Albuquerque, NM	2.0	1.0–2.0	705	$1,350	$1.91	5d	8	0.99mi
8000 Montgomery Blvd NE Albuquerque, NM	1.0–2.0	1.0–2.0	816	$1,602	$1.96	5d	14	1.03mi
9500 Osuna Rd NE Albuquerque, NM	1.0–2.0	1.0–2.0	925	$1,798	$1.94	5d	16	1.03mi
4929 Osuna Pl NE Albuquerque, NM	2.0	2.0	1122	$1,825	$1.63	45d	1	1.04mi
2208 Lester Dr NE Albuquerque, NM	2.0	1.0–2.0	758	$1,345	$1.77	45d	1	1.05mi
10000 Menaul Blvd NE Albuquerque, NM	1.0–2.0	1.0–2.0	782	$1,300	$1.66	4d	13	1.05mi
4401 Morris St NE Albuquerque, NM	2.0	1.0–2.0	652	$1,464	$2.24	4d	23	1.05mi
2201 Ambassador Rd NE Albuquerque, NM	1.0–2.0	1.0–2.0	845	$1,370	$1.62	5d	11	1.05mi
10316 Gutierrez Rd NE Albuquerque, NM	3.0	2.0	1250	$1,945	$1.56	21d	1	1.17mi
2405 Dorothy St NE Albuquerque, NM	3.0	1.0	1064	$1,700	$1.60	25d	1	1.18mi
9900 Spain Rd NE Albuquerque, NM	1.0–2.0	1.0–2.0	880	$1,558	$1.77	5d	10	1.21mi
8902 Spain Rd NE Albuquerque, NM	2.0	2.0	1700	$1,900	$1.12	16d	1	1.26mi
7600 Montgomery Blvd NE Albuquerque, NM	1.0–3.0	1.0–2.0	910	$1,639	$1.80	4d	18	1.26mi
8506 Spain Rd NE Albuquerque, NM	2.0	2.0	1716	$2,200	$1.28	45d	1	1.32mi
5100 Mesa Del Oso Rd NE Albuquerque, NM	2.0	1.0–2.5	1165	$1,882	$1.62	16d	1	1.33mi
5300 Eubank Blvd NE Albuquerque, NM	2.0	1.0–2.0	728	$1,758	$2.41	4d	17	1.35mi
5316 Van Christopher Dr NE Albuquerque, NM	3.0	2.0	1722	$2,800	$1.63	45d	1	1.38mi
8432 Chambers Ct NE Albuquerque, NM	2.0	1.0	1035	$1,600	$1.55	25d	1	1.38mi
5222 Wyoming Blvd NE Albuquerque, NM	1.0–2.0	1.0	852	$1,410	$1.65	5d	8	1.41mi
10333 Camino del Oso NE Albuquerque, NM	3.0	2.0	1436	$2,295	$1.60	45d	1	1.42mi
8401 Spain Rd NE Albuquerque, NM	1.0–2.0	1.0–2.0	687	$1,640	$2.39	5d	40	1.46mi
10409 Camino del Oso NE Albuquerque, NM	2.0	2.0	1165	$2,150	$1.85	45d	1	1.47mi

Listing history 22 events

1. 2026-06-22
   days on market $184,900 Active 128 DOM
2. 2026-06-18
   days on market $184,900 Active 125 DOM
3. 2026-06-17
   days on market $184,900 Active 124 DOM
4. 2026-06-16
   days on market $184,900 Active 123 DOM
5. 2026-06-15
   days on market $184,900 Active 122 DOM
6. 2026-06-13
   days on market $184,900 Active 120 DOM
7. 2026-06-10
   days on market $184,900 Active 117 DOM
8. 2026-06-09
   days on market $184,900 Active 116 DOM
9. 2026-06-08
   days on market $184,900 Active 115 DOM
10. 2026-06-07
    days on market $184,900 Active 114 DOM
11. 2026-06-05
    days on market $184,900 Active 111 DOM
12. 2026-06-03
    days on market $184,900 Active 110 DOM
13. 2026-06-02
    days on market $184,900 Active 109 DOM
14. 2026-06-01
    days on market $184,900 Active 108 DOM
15. 2026-05-31
    days on market $184,900 Active 107 DOM
16. 2026-05-13
    status Active 342-char remark

    Show marketing remark (342 chars)

    Major fixer-upper opportunity. The home is in poor condition and cited as substandard with the city. The home will require extensive repairs and updates throughout, including but not limited to roof, plumbing, flooring, paint, and water damage remediation. Not move-in ready. Property is being sold as-is, where-is, with no repairs by seller.

17. 2026-05-13
    price $184,900 342-char remark

    Show marketing remark (342 chars)

    Major fixer-upper opportunity. The home is in poor condition and cited as substandard with the city. The home will require extensive repairs and updates throughout, including but not limited to roof, plumbing, flooring, paint, and water damage remediation. Not move-in ready. Property is being sold as-is, where-is, with no repairs by seller.

18. 2026-05-07
    historical 342-char remark

    Show marketing remark (342 chars)

    Major fixer-upper opportunity. The home is in poor condition and cited as substandard with the city. The home will require extensive repairs and updates throughout, including but not limited to roof, plumbing, flooring, paint, and water damage remediation. Not move-in ready. Property is being sold as-is, where-is, with no repairs by seller.

19. 2026-04-09
    price $194,900 342-char remark

    Show marketing remark (342 chars)

    Major fixer-upper opportunity. The home is in poor condition and cited as substandard with the city. The home will require extensive repairs and updates throughout, including but not limited to roof, plumbing, flooring, paint, and water damage remediation. Not move-in ready. Property is being sold as-is, where-is, with no repairs by seller.

20. 2026-03-10
    price $199,900 342-char remark

    Show marketing remark (342 chars)

    Major fixer-upper opportunity. The home is in poor condition and cited as substandard with the city. The home will require extensive repairs and updates throughout, including but not limited to roof, plumbing, flooring, paint, and water damage remediation. Not move-in ready. Property is being sold as-is, where-is, with no repairs by seller.

21. 2026-02-05
    listed $209,900 Active 342-char remark

    Show marketing remark (342 chars)

    Major fixer-upper opportunity. The home is in poor condition and cited as substandard with the city. The home will require extensive repairs and updates throughout, including but not limited to roof, plumbing, flooring, paint, and water damage remediation. Not move-in ready. Property is being sold as-is, where-is, with no repairs by seller.

22. 1998-07-23
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NM · Resets to sale price

• Current annual tax: $1,851 · $154/mo
• Projected year-2 tax: $1,851 · $154/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 6 d/yr ≥94°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,258
• − Mortgage interest: −$10,357
• − Property taxes: −$1,851
• − Insurance: −$924
• − Repairs & maintenance: −$1,621
• − Management: −$1,621
• − Depreciation: −$5,379
• Taxable loss: −$1,495
• Est. tax savings @ 24.0%: +$359
• After-tax cash flow: $1,952/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Albuquerque Public Schools
• NCES district ID: 3500060
• Math proficiency: 51% ▲ 30.00%
• Reading proficiency: 75% ▲ 45.00%
• Median HH income: $48,151
• Composite: 53.29/100
• National rank: #1487
• State rank: #3 of 29 in NM

Livability — Albuquerque

• Score: 72/100
• State rank: #13
• US rank: #6219

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albuquerque, NM
• County: Bernalillo County · 647,165 people
• City population: 647,165
• Metro: Albuquerque, NM
• Population (ZIP): 57,085
• Household income: $90,290
• Rent vs Own: 38.7% rent · 61.3% own
• Severe rent burden: 2602.0

Population outlook (Bernalillo County) Hauer SSP2

• Today (2025): 704,528 people
• By 2030: 711,723 · +1.0%
• By 2040: 714,522 · +1.4%
• By 2050: 709,274 · +0.7%
• By 2075: 680,015 · -3.5%
• By 2100: 619,879 · -12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 61% Hispanic / Latino 28% Two or more races 16% Native American 3% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% German/W. Germanic 1%

Political lean MEDSL · Bernalillo

• 2024 margin: Strong D (+21.0) · D 59.2% · R 38.2% · Other 2.6%
• 2008→2024 swing: -0.3pp no change · 2008: 21.4pp · 2024: 21.0pp
• All cycles: 2024: D+21.0 2020: D+24.4 2016: D+17.8 2012: D+16.2 2008: D+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -334.94%
• Current HPI: 236.0581
• Rent YoY: ▲ 0.60%
• Metro: Albuquerque, NM
• State GDP YoY: —
• F500 in state: 0

Price history

-11.9% since first listed

7 events — show timeline

• 2026-05-13 Relisted — Southwest MLS
• 2026-05-13 Price Changed $184,900 Southwest MLS
• 2026-05-07 Delisted — Southwest MLS
• 2026-04-09 Price Changed $194,900 Southwest MLS
• 2026-03-10 Price Changed $199,900 Southwest MLS
• 2026-02-05 Listed $209,900 Southwest MLS
• 1998-07-23 Sold (Public Records) — Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,851 · +3.2% YoY. Source: county tax records.